Lodha Group sells flats worth Rs 690 crore in Palava township

NEW DELHI: Mumbai-based realty firm Lodha Group today said it has sold homes worth Rs 690 crore during last 10 days in its township project at Palava.

Lodha Group said in a statement that it has successfully pre-launched project in Palava City by selling over 1,350 homes.

"In a period of just 10 days, Palava - India's first privately developed smart city, has sold homes worth Rs 690 crore," Lodha Group said.

The first phase, spreading over 275 acres and comprising 19,000 homes, has been delivered.

This new project 'Codename Golden Tomorrow' is a part of Palava's 4,500 acre development that will have 20 schools.

Established in 1980, privately held Lodha Group clocked sales of over Rs 6,400 crore during last fiscal.

The company is currently developing around 41 million sq ft of prime residential real estate globally with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai Metropolitan Region, Pune and Hyderabad.

In FY 2015-16, Lodha Group delivered 3.3 crore sq ft of real estate and 6,800 units.